How much money will william have in her savings account

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Reference no: EM131583284

How much money will William have in her savings account on December 31 2016, assuming the following facts:

- William plans to deposit $5000 on January 1st of each year, beginning on January 1, 2014.

-William's parents plan to match the annual interested earned on William's account on December 31st of each year

-Interest rates were 1.5% from January 2014 - March 2014

-Interest rates are projected to be 2% from April 2014 - December 2014

-Interest rates are projected to be 3.5% from January 2016 - December 2016.

-Interest compounds monthly

-Williams plan to withdraw $2,500 on April 2016

Reference no: EM131583284

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